Over the past decade, the Belt and Road Initiative (BRI) has emerged as a transformative force, reshaping the landscape of global cooperation and development. This ambitious initiative, launched by China, has not only strengthened economic ties but also injected positive energy into world peace and development. Through infrastructure development, poverty reduction, trade facilitation, and global governance enhancement, the BRI has had a far-reaching impact on participating countries and the international community.
Bringing Tangible Benefits to Participating Countries:
Infrastructure Development: The BRI has addressed critical connectivity and infrastructure bottlenecks in developing countries. Railways, highways, pipelines, shipping routes, energy projects, and communication facilities have been constructed, significantly improving local living conditions and boosting economic development.
Industrial Capacity Cooperation: Through partnerships in industrialization, digitization, and informatization, participating countries have strengthened their competitive industrial systems and expanded their global participation. This cooperation has created numerous opportunities and spaces for development.
Poverty Reduction: China’s active involvement in global food and agriculture governance, along with the introduction of agricultural technologies, has helped reduce rural poverty in Asia, Africa, the South Pacific, Latin America, and the Caribbean. Moreover, the BRI has facilitated job creation through industrial parks, lifting families out of poverty.
Trade Facilitation: Improved infrastructure connectivity has lowered trade costs, increasing participating countries’ access to the global economy. Research by the Asian Development Bank demonstrates that infrastructure improvements can significantly boost exports.
Emergency Management: China has extended international cooperation in emergency management, providing humanitarian aid, rescue teams, and technical support to countries affected by natural disasters.
Adding Vitality to Economic Globalization:
Global Connectivity: The BRI has opened up new economic corridors, connecting East Asia, Europe, and regions in between. This connectivity has expanded the international division of labor and cooperation, fostering global economic growth.
Foreign Direct Investment: Infrastructure development under the BRI has attracted FDI, further promoting economic growth in participating countries. Cross-border direct investment has notably increased in Southeast Asia and other regions.
Trade Growth: The BRI supports trade liberalization and facilitation by eliminating transport bottlenecks and trade barriers. It has also made participating countries more attractive to global capital, benefiting the world economy.
Global Supply Chain Stability: Efficient international transport corridors established through the BRI have played a crucial role in ensuring the stability and smooth flow of global supply chains, especially during crises like the COVID-19 pandemic.
Providing New Solutions for Improving Global Governance:
Multilateralism: The BRI advocates for genuine multilateralism, emphasizing dialogue, cooperation, inclusiveness, and shared benefits. It supports existing global governance mechanisms and actively promotes new ones, contributing to more balanced global governance.
Recognition: The BRI’s core principles have found their way into international documents and organizations, strengthening global recognition of the initiative’s values and principles.
Equality and Mutual Learning: The BRI promotes equality among civilizations and mutual learning, fostering greater understanding and respect among diverse cultures. It offers solutions to address global governance deficits.
Garnering Strength for the Progress of Human Civilization:
People-to-People Exchange: The BRI has facilitated people-to-people exchanges, cultural preservation, and cooperation in various fields. It promotes mutual understanding and appreciation among different societies.
Youth Empowerment: Youth engagement through programs like the Belt and Road Youth Story and the Chinese Youth Global Partnership has harnessed the potential of young people, reinforcing people-to-people bonds and development.
Educational Workshop: These international vocational education platforms have helped thousands of young individuals in participating countries gain technical skills, increasing employability and contributing to their countries’ development.
In brief The Belt and Road Initiative has become a powerful force for global development and cooperation. By focusing on infrastructure development, poverty reduction, trade facilitation, and global governance enhancement, it has not only brought tangible benefits to participating countries but has also injected positive energy into world peace and development.
As the world faces increasing challenges, the BRI remains a beacon of hope for a more connected, inclusive, and prosperous future for all. China’s commitment to expanding and improving the BRI ensures that its positive impact will continue to resonate across the globe.